Present bias and endogenous growth
将准双曲贴现偏好纳入两部门内生增长模型，发现现时偏向对增长率的影响取决于跨期替代弹性是否小于一，并指出物质资本补贴无效而人力资本补贴可提升增长率。
This paper examines the impact of present bias on growth rates by incorporating quasi-hyperbolic discounting preferences into a two-sector endogenous growth model. Our analysis demonstrates that, under equal patience levels as an exponential economy, the quasi-hyperbolic economy exhibits a lower (equal or higher) growth rate compared to the exponential economy if the intertemporal elasticity of substitution (IES) is less than (equal to or greater than) one. We show that physical capital subsidy is ineffective, whereas human capital subsidy can enhance the growth rate.